The Federal Reserve Drops Rate by .75 points for Both Rate

The Federal Reserve just drop the Fed Rate to Banks by .75 points both for inter Bank Rate, which is the Fed Fund rate and for the Discount rate. But, The Fed also cautions for Inflationary risk rises. Next meeting is at the end of May, and forecast than is for .50 points. The Fed could have reduced it by 1 full pointn but drops .75, which I think is a cautionary and smart move.

The stock market reaction is good, Dow Jones is up by 245 points at 2:15 east coast time, with all indexes up.

Enjoy the latest financial news, thanks to this blogger watching CNBC.

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